Investing Across Europe, Compared
Eight countries, one view: tax on capital gains, deposit insurance, and the responsible financial regulator. For the full depth on one country, head to its own country page.
This page summarizes what already exists in full detail across the eight individual country pages under Taxes by Country, plus two extra dimensions: deposit insurance and the financial regulator. Tax law changes, so the figures here are a snapshot, not a guarantee — always check the current situation before making a decision. This is not tax or investment advice.
| Germany | Austria | Switzerland | Belgium | France | Italy | Spain | Netherlands | |
|---|---|---|---|---|---|---|---|---|
| Rate on capital gains | 26.375% | 27.5% | 0% for private investors | 10% | 31.4% (flat tax) | 26%, crypto 33% | 19–30% progressive | 36% on assumed return |
| Annual allowance | €1,000 | none | not applicable | €10,000 | none | none | none | €59,357 of net worth |
| Partial exemption | 30% for equity funds | none | not applicable | none | none | none | none | not applicable, different system |
| Holding period | none | none | not applicable | none | none | none | none | not applicable, different system |
| Annual pre-taxation | advance lump sum | deemed-distribution income | none | none | none | none | none | yes, on total net worth |
| Dividends | same as capital gains | same as capital gains | as income | 30% withholding tax | same as capital gains | same as capital gains (26%) | same as capital gains | included in assumed return |
| Deposit insurance | €100,000 | €100,000 | CHF 100,000 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 |
| Financial regulator | BaFin | FMA | FINMA | FSMA | AMF | CONSOB | CNMV | AFM |
| Notable point | exemption order required | choose a tax-simple broker | trading as a business voids the tax exemption | transaction tax per trade | PEA and life insurance wrappers have special rules | 0.2% extra levy with a foreign broker | savings-income bracket is nationwide | taxed regardless of sale |
Germany
Austria
Switzerland
Belgium
France
Italy
Spain
Netherlands
Deposit insurance: mostly the same principle
Seven of the eight countries are EU members and apply the same limit: €100,000 per customer per bank, set by the EU Deposit Guarantee Schemes Directive. That covers bank balances — checking accounts, savings accounts, fixed-term deposits — not securities held in a brokerage account, which are already kept as segregated assets separate from the bank's own balance sheet. Switzerland isn't an EU member and protects deposits through its own scheme (esisuisse) up to CHF 100,000 — a similar amount, a different legal basis.
Retirement: structure, not numbers
All eight countries run, at their core, a three-pillar model of state, occupational, and private pension provision — but the statutory retirement age, contribution rates, and replacement rates differ sharply and change often through reform. That's deliberately why there's no numbers table here, to avoid showing figures that could already be outdated by the time you read them: the most reliable source is always the relevant national pension authority or regulator directly. Zerotoinvest doesn't yet have its own lesson on this — noted as an open item for a future expansion.
Why these eight
Eight countries, because these are the ones with already fully researched country pages — not because other European countries matter less. Missing your country?